Karel Rogers, PhD – Energy Crisis

Video Transcript:

The energy crisis started for us back in the 1970’s with oil shocks that occurred then because we were running out of our domestic sources of oil. Then we started addressing the issues with a variety of different technologies and so on, but in short order all of that was forgotten and because of how markets work, oil imports replaced what we couldn’t produce domestically. Right now what we are facing is that same kind of peak production which has occurred now though on a global level, and increasing demand from countries around the world has brought us to an energy crisis. And this crisis is essentially a crisis of how much energy we have been wasting rather than the amount of energy we have been using.